Which of you hosting companies use collection agency and what is that company? What is your results and satisfaction with them? I use TransWorld and til this day (2yrs / 40+ cases submitted) I have received only one payment.
I would like your review/feedback on which is the most effective, professional collection agency. Please name it and their website link.
If you are owed money, a collections agency will track down the people who owe you, and persue them for the debt. They sometimes charge a single fee, multiple fees for each stage of the process of reclaiming the debt, or a commision of the amount you are owed.
It is often important to think about whether the amount of money you will get back is worth the cost of the collections agency.
Most collections agencies I have ever dealt with simply took a % of the final amount collected. Unfortunately all a collections agency can do is scare someone into making payment. The downfall with this is that most shady customers who skip on payment usually aren't affected but some threads.
Anyways, I stopped using them alltogether and mark clients that owe us money as a loss.
And keep in mind, I'm 99% sure that anyone being pursued by a collections agent can make an offer to pay back the money on ANY terms ($5 a week for 200 weeks) and the agency must accept. I could be wrong here though... thought I heard this before.